LEGISLATIVE FISCAL ESTIMATE

[First Reprint]

ASSEMBLY, No. 5857

STATE OF NEW JERSEY

221st LEGISLATURE

 

DATED: JUNE 27, 2025

 

 

SUMMARY

 

Synopsis:

Authorizes State Treasurer to sell as surplus property certain land and improvements in City of Trenton and Township of Lawrence in Mercer County.

Type of Impact:

One-time State revenue increase; one-time expenditure increase for Mercer County.

Agencies Affected:

Department of the Treasury; Mercer County.

 

 

Office of Legislative Services Estimate

Fiscal Impact

 

 

 

 

One-Time State Revenue Increase

 

$2.00

 

 

One-Time Expenditure Increase for Mercer County

 

$2.00

 

 

 

 

 

 

·         The Office of Legislative Services (OLS) concludes that this bill will result in a one-time revenue increase to the State-Owned Real Property Fund of two dollars for the sale of the surplus property to Mercer County.  Mercer County will experience a concurrent one-time expenditure increase of two dollars.

 

 

BILL DESCRIPTION

 

      This bill authorizes the State Treasurer to sell as surplus property certain State-owned land and improvements located in the City of Trenton and the Township of Lawrence of Mercer County to the county pursuant to the terms and conditions approved by the State House Commission. 

      There are two properties to be sold by the Department of the Treasury to Mercer County, each for the sum of one dollar.  The property located in the City of Trenton is situated on Lamberton Street and the property located in the Township of Lawrence is situated on Lawrence Station Road, known as the Mercer County Fire Academy Dempster Fire Training Center.

 

FISCAL ANALYSIS

 

EXECUTIVE BRANCH

 

      None received.

 

OFFICE OF LEGISLATIVE SERVICES

 

      The OLS concludes that this bill will result in a one-time revenue increase to the State-Owned Real Property Fund of two dollars for the sale of the surplus property to Mercer County.  Mercer County will experience a concurrent one-time expenditure increase of two dollars.

      Under current law, any revenues generated from State property sales are to be deposited into the State-Owned Real Property Fund unless otherwise stated in the bill.

 

 

Section:

State Government

Analyst:

Camryn Mathews

Assistant Fiscal Analyst

Approved:

Thomas Koenig

Legislative Budget and Finance Officer

 

 

This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

 

This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).